Professional subscription on P11D

Mac1304

Hi,

I wonder if anyone can help. I am doing my self asessment for the first time and feeling a bit lost. I was ok until I noticed professiinal subscriptions on my P11D. My employer has obviously paid for this, but this is the first time It's been included on the P11D (i mived employers earlier on in the year). Will i be taxed on this as a benefit or is there anything I need to be doing on the tax return to save me paying the tax?

Thanks

MDMD

If it's on the P11d then your employer is stating it is taxable.

However having just prepared hundreds of these over the past few weeks I know mistakes can happen.

Have a look at 'list 3' on the gov website - if they are on there you can either claim an expense under ITEPA 2003 s336, or a bit cleaner, ask your employer to correct the P11d.

If it is not taxable it shouldn't really be on there.

Pennywise

You put a corresponding claim of the same amount in your expenses-to-claim section of the employment pages of your self assessment tax return, then it will cancel out.

purdyoaten

MDMD wrote: »

If it's on the P11d then your employer is stating it is taxable.

However having just prepared hundreds of these over the past few weeks I know mistakes can happen.

Have a look at 'list 3' on the gov website - if they are on there you can either claim an expense under ITEPA 2003 s336, or a bit cleaner, ask your employer to correct the P11d.

If it is not taxable it shouldn't really be on there.

It would not be correct for the employer to 'correct the P11D' as the payment was correctly declared as a benefit in kind. Pennywise has provided the correct solution to the problem.

Mac1304

Thank you so much. RICS are on list 3 so I will add as an expense and cancel them out.